7200 Hollywood Blvd - Apartments FOR SALE


Los Angeles, CA 90046- Hollywood
$16,250,000 USD
310-706-4400
7200 Hollywood Blvd, Los Angeles, CA for Sale
$16,250,000 USD
Apartments - FOR SALE
1/10
null | 7.1% Cap Rate

7200 Hollywood Blvd
Los Angeles, CA 90046
Hollywood


HIGHLIGHTS

  • Hayden on Hollywood offers investors a proven interior renovation scope to emulate and capture 11%+ in remaining rental income upside.
  • Notable capital improvements include seismic retrofitting in parking areas, upgraded electrical systems, and replacing all of the windows throughout.
  • The 90046 zip code of Hollywood is a high demand rental market. 77% of the population are renters and 51% are between the ages of 20 and 44.
  • The Property offers residents a true live, work, play environment with proximity to some of Hollywood’s best dining and retail shopping.
  • The Property recently achieved $1,749 on a renovated studio, $1,995 on a renovated 1-bedroom, and $2,799 on a renovated 2-bedroom.
  • The Property consists of 4 non-contiguous buildings, providing disposition optionality including the ability to sell parcels individually.

OVERVIEW

OFFERED CONCURRENTLY WITH SIENNA ON SANBORN (SILVER LAKE) & GRACIE ON GRAMERCY (HOLLYWOOD). OPPORTUNITY TO PURCHASE INDIVIDUALLY OR TOGETHER. Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Hayden on Hollywood (the “Property”), a four-building, 74-unit multifamily community located in the Hollywood submarket of Los Angeles at 7200, 7407, 7451, & 7504 Hollywood Blvd Los Angeles, CA 90046. Originally constructed between 1938 and 1953, current ownership has spent $4.7M ($60K+ per unit) on capital expenditures to completely transform the community. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward. 51 of the 74 unit interiors (69%) have been extensively renovated, including new cabinetry, new stainless-steel appliances, plank vinyl flooring (or refinished oak hardwood floors), quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers (in select units). Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 23 units (31%) and capture 11%+ upside in rental income.

FOR SALE DETAILS

PRICE

$16,250,000 USD

PRICE/SF

$250 USD /SF

# OF UNITS

74

PRICE/UNIT

$219,595

CAP RATE

7.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hayden on Hollywood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

61

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,094 SF

ZONING

[Q]R3-1XL & R3-1

APN/PARCEL ID

5548-009-010,5550-001-002,5550-002-004,5550-011-023

ASK ABOUT THIS PROPERTY

Kevin GreenMarcus & MillichapMore Info
310-706-4400

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Kevin GreenMarcus & MillichapMore Info
310-706-4400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.